$75 billion for hospitals and health care providers responding to the COVID-19 pandemic (on top of $100 billion in CARES Act)

The CARES Act was the third of the ‘COVID-19’ relief bills passed by the Federal Government. The bill passed last night (The Paycheck Protection Program and Health Care Act) should be considered ‘covid-3.5’. This bill was not, nor was it intended to be, of a similar scale and scope as CARES. There is already a fourth bill being discussed by Congress to provide additional relief and support to our economy.

The timeline for the next bill is hard to pin down, but it appears likely we will not see significant movement until the middle of May. There are several items that still need to be addressed in future relief bills including infrastructure, increased testing, targeted economic development funding, payroll tax relief, and direct assistance to states and local governments.The NYSEDC will continue to advocate on behalf of our membership for the resources and support we need. We will share additional information as it becomes available